Sanctions Officer

The Sanctions Officer is responsible for ensuring the bank complies with all applicable sanctions regulations and AML requirements. The role provides sanctions-related advice to business units, manages sanctions risks, reviews customer and transaction screening results, and ensures compliance with local and international regulations, including SAMA, FATF, OFAC, and UN sanctions requirements.

1. Sanctions Compliance

• Ensure compliance with local and international sanctions regulations.
• Implement and maintain the bank's sanctions policies and controls.
• Support the Head of AML in managing the sanctions function.
• Monitor sanctions risks across the bank.

2. Customer & Transaction Screening

• Screen new and existing customers (NTB/ETB).
• Review suppliers, vendors, owners, and related parties against sanctions lists.
• Validate customer information against:
• SAMA
• OFAC
• United Nations (UN)
• Other international watchlists
• Review sanctions alerts generated during account opening.

3. Payment & Wire Transfer Monitoring

• Review flagged wire transfers.
• Ensure sanctioned or grey-listed individuals are not involved in transactions.
• Review released payment samples for compliance.

4. Sanctions Systems Management

Manage and maintain sanctions screening systems including:

• Firco Soft
• OWS
• World-Check
• Other sanctions screening tools

Responsibilities include:

• Maintaining "Good Guy" and "Bad Guy" lists

5. Risk & Regulatory Compliance

• Monitor changes in sanctions regulations.
• Ensure compliance with FATF recommendations.
• Update the Financial Crime Compliance Risk Model (FCCRM).
• Participate in sanctions implementation reviews across business units.
• Coordinate with regulators on sanctions-related matters.
• Provide sanctions guidance to business units.
• Support awareness and training programs.
• Ensure KYC policies include sanctions requirements.
• Advise operational teams on sanctions-related matters.

Saudis Only

• Bachelor's degree or equivalent in a relevant discipline.

• 5–7 years of banking or financial services experience.
• Experience in AML, sanctions, compliance, or financial crime.
• 3–5 years in an AML management or supervisory role is preferred.

• CAMS (Certified Anti-Money Laundering Specialist)
• CCO or other AML/Compliance certifications

• AML Compliance
• Sanctions Compliance
• KYC (Know Your Customer)
• FATF Recommendations
• OFAC Regulations
• UN Sanctions
• SAMA Regulations
• Wire Transfer Monitoring
• Payment Screening
• Regulatory Compliance
• Banking Operations
• Firco Soft
• OWS
• World-Check
• FCCRM (Financial Crime Compliance Risk Model)